The Charles Schwab Corporation $SCHW Stake Increased by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,890 shares of the financial services provider’s stock after buying an additional 140 shares during the period. Beaumont Financial Advisors LLC’s holdings in Charles Schwab were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pine Haven Investment Counsel Inc increased its stake in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the last quarter. Traveka Wealth LLC increased its stake in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares during the last quarter. Bank of Stockton increased its stake in shares of Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after buying an additional 123 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after buying an additional 129 shares during the last quarter. Finally, HM Payson & Co. increased its stake in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 130 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $95.52 on Friday. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59. The firm’s 50-day simple moving average is $95.55 and its 200 day simple moving average is $88.04. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $173.39 billion, a P/E ratio of 25.68, a P/E/G ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,213 shares of company stock valued at $26,232,180 in the last quarter. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SCHW shares. JMP Securities lifted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Morgan Stanley lifted their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.